Here are 3 long entry possibilities. For long entries after 7800+ daily close candle remember to place profit stop losses as due to the down-trending long term channel since June there could be rejection from sub 8k area. Only low lev and trade with care and look for out for CME gaps on weekends adjusting your trades based on your own judgements. I believe we have bottomed or if not we are very close to the bottom. Any trade in the 5k-6k region is a good trade if its on low lev in my opinion.
For newbies, try different strategies and stick to the one that works for you. Most of us traders have suffered our fair share of losses till some of us finally find a strategy that works! Here are some tips:
Start small with low leverage. Study high timeframe charts for support and resistance lines then go into smaller timeframes to find an entry point. If you are looking for long entries, find good entry points near support lines that are showing on higher timeframes and look for bounces with confirmation candles at support points and place your stop losses below these support lines. Take your time before placing trades. A good entry point and good risk management is key to profitable trades. Win more lose less! Divide your capital into at least 10 small portions at the very least or divide even more if possible and you can add to your first trade by laddering in more small long trades once clear strong resistances points have been cleared and next level of support has been achieved. When laddering in to an existing trade place smaller 1/3 to 1/4 of your 1st trade value to maintain good entry price and get your stop loss placed in profit in case trend turns against you and breaks nearest strong support. Never let a profitable trade ever turn red again! Any profit is good profit no matter the value and don't get greedy! Good luck!
For newbies, try different strategies and stick to the one that works for you. Most of us traders have suffered our fair share of losses till some of us finally find a strategy that works! Here are some tips:
Start small with low leverage. Study high timeframe charts for support and resistance lines then go into smaller timeframes to find an entry point. If you are looking for long entries, find good entry points near support lines that are showing on higher timeframes and look for bounces with confirmation candles at support points and place your stop losses below these support lines. Take your time before placing trades. A good entry point and good risk management is key to profitable trades. Win more lose less! Divide your capital into at least 10 small portions at the very least or divide even more if possible and you can add to your first trade by laddering in more small long trades once clear strong resistances points have been cleared and next level of support has been achieved. When laddering in to an existing trade place smaller 1/3 to 1/4 of your 1st trade value to maintain good entry price and get your stop loss placed in profit in case trend turns against you and breaks nearest strong support. Never let a profitable trade ever turn red again! Any profit is good profit no matter the value and don't get greedy! Good luck!
